IPO Alert! Jain Resource Recycling files draft papers with Sebi; details

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IPO Alert! Jain Resource Recycling files draft papers with Sebi; details - Business Standard

Quick Summary:

The company is also engaged in trading of non-ferrous metals and other commodities, which constitute 4.20 percent, 1.98 percent, 4.50 percent, and 1.30 percent of its revenue from operations for the six-month period ending September 30, 2024, Fiscal 2024, Fiscal 2023, and Fiscal 2022, respectively.

Jain Resource Recycling proposes to utilise the net proceeds towards pre-payment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company and for general corporate purposes.

The company is among the two recycling companies in India to get its lead ingot registered as a brand by the London Metal Exchange (Source: CRISIL), which provides the company a distinct advantage of access to a broader customer base.